Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/329014 
Year of Publication: 
2024
Citation: 
[Journal:] Economies [ISSN:] 2227-7099 [Volume:] 12 [Issue:] 4 [Article No.:] 88 [Year:] 2024 [Pages:] 1-19
Publisher: 
MDPI, Basel
Abstract: 
The misery index (MI) was devised to summarize the most evident costs for a society, attempting to objectively measure the loss in general welfare. It has been remarked in the literature that economic growth exerts a negative impact on the MI; however, analyses of this relationship in the tourism field have been neglected. This study assessed the effectiveness of the tourism sector at improving welfare conditions by measuring the impact of tourism GDP on the misery index and providing a theoretical framework for the relationship between tourism and the MI. A quantitative analysis was conducted using quarterly time series data for the period 2005Q1-2021Q2. Firstly, the existence of a long-term relationship was tested by using the Toda-Yamamoto procedure, and secondly, by applying linear and nonlinear ARDL models. The main results show that tourism can help to reduce the loss of welfare mirrored by the MI. These findings have policy implications, as they provide evidence that expanding the tourism sector counters the MI, and, consequently, the economic malaises derived from it.
Subjects: 
ARDL
inflation
NARDL
Okun's misery index
tourism GDP
unemployment
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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